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Suspected "1011 Insider Whale" Garrett Jin: Precious metal prices drop sharply, BTC and ETH begin to rebound
Mars Finance News, suspected “1011 Insider Whale” Garrett Jin posted on X platform stating that the prices of precious metals such as platinum, palladium, and silver have experienced a significant decline, while Bitcoin and Ethereum prices have started to rebound. Currently, the market positions in these precious metals are overly crowded, and the short-term overbought conditions have increased risks and triggered profit-taking. As a result, market funds are shifting from overheated trading to relatively undervalued assets. Garrett Jin previously stated that the rise in silver, palladium, and platinum is merely a short-term squeeze and unsustainable. Once the prices start to reverse, it is likely to drag down gold prices as well, with market funds moving from precious metals to Bitcoin and Ethereum.